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CW r4 I)t0 Journal. VOLUME XXXI. COLUMBUS, WEDNESDAY, MARCH 17, 1811. NUMBER 42. COLUMBUS; MONDAY', MARCH IS, 1841. LEGISLATIVE PROCEEDINGS. Saturday, March 13. In (he Senate to-day the bill to protect Camp Meetings was called up, and notwithstanding all the opposition that lias been exhibited towards it during tho winter, it was ordered to be engrossed by a vote of 30 to 0. In tho House the suspension provision in the appropriation bill, has been mainly under consideration, but without making much progress. UNSKNATORIAL CONDUCT. The Senate is growing disorderly. Tho indecorous scenes exhibited in that body on Friday and Saturday will scarcely bear repetition. We are awaro that the principal difficulty can be traced to the bad temper and domineering spirit of a single individual, who is at length finding his proper level, but docs not let himself down to it quietly. Members should not, however, forget what is due to self respect and to the dignity of their stations. C7The Statesman recurs to the subject of tho Inaugural Address, and asks us to do the Ualli-moro Sun "justice." We will do so by reiterating our conviction, that the Sun violated the confidence reposed in it, by forwarding copies of the Address to its western exchange, on the day previous to its delivery in tho Capitol by the President. That may not be the kind of justice which the Sun would covet, but it is all wo have to render. Now for the grounds of our belief: The Sun, containing tho Address, was received at Wheeling on Saturday morning. In the ordinary course of tho mail, without the employment of any express, it could not have left Washington or Baltimore before somo time on tho night of I hiirsday probably on Friday morning. 1 his would leave only ono day, or at most some thirty hours for tho transmission of the Address from Washington or Ualtimoro to Wheeling. Does any body believe, or pretend that the Address came through so far in so short a time, in the regular mail? Hut ngain: nono of tho other papers published at Washington or Baltimore brought an Address here until the Tuesday morning after i) was delivered. Now how is the fact that the Sun with tho Address reached here on Sunday morning two days previous to bo accounted for, except upon the presumption that it was mailed one day in anticipation of the delivery of the Address. It admits or no oilier explanation, and the Statesman makes no pretence that it is susceptible or any other. That print says it will not let tho subject pass. We have very little disposition to permit it to rest ourselves, until whatever of mystery thcro is about it shall bo cleared up. Tho Sun's copies are said to have been printed at the Mailisonian office. We have no doubt that the confidence of the Madisouian has been violated in this matter, and we hope tho editor of that print will aid us in fcrroting out the facts. Doth the Washington and llaltimore papers owe it to themselves to in' form their Western readers how it happened that the Aim should havo anticipated them in the transmission of such an important and unfrcqucnt document, as an Inaugural Address, by tho whole sum ol two (tails. If the Sun itself can explain this matter any more satisfactorily, then we shall be ready and willing to correct any erroneous impressions we may have made, but wo cannot change our prcs ent opinions until wa have some reasons for doing 10. IrT'The Statesman lias just waked up to the irregularities in the mails. During the whole winter, the mail has been regular in nothing but its failure as often as (.nee in three times, and that print has just found it out. Tho Statesman will please to remember that all tho Post masters, Con' tractors, and Agents of the Department are slill tho same that they have been all along, and that no improvements can be expected until tho Van Uiircn subordinates havo been ejected. Wo have to-day. (Saturday,) no Washington papers ot a later dato than 1 riday of last week and none from llaltimore later than Monday, lly tho latter wo learn that tho members of the Caw net had been confirmed by the Senate. ICThe mails seem terribly deranged between New York and the Statesman ollice. Wo are ahead of the State Printer about a week, with the intelligence of Ilnit't defalcation, and the bunt ing n( of the Sub-1 rcasury. OHIO LEGISLATOR E. SENATE. SATi'anAV, March 13, 1641 Th Senate met pursuant lo adjournment. Petitions who presented by Messrs. Hnseliine, Lord, Hosteller, Glover, Sill, Hunt, Bissel and Her- kins which with disposed of. Mr. Hough reported hack lha bill In invest certain escheated lands in the county of Hamilton; and the bill was recommitted to the Judiciary committee. Mr. Bissel reported back the bill in relation lo tha as.lt! of real estate ennveyed hy deed of truMi; and tha bill was postponed lo the first Monday in December next. Mr. Hough recommended tha postponement of the bill to encourage school district libiaries, until the first Monday in December next; agreed to. Mr. Hnugh made a similar report in relation to pe titlons frain i lie counties of Summit and Huron, for school district libraries: agreed to. Mr. Sill asked leave. In ha discharged from the fur titer consideration cf petitions from citiiens of Lucas, Williams and Henry counties, for the passage of law lo authorise tha levying of laxee for road purposes: agreed lo, Mr. llisacl reported bark the bill preecribing tha dutiea of Governor end Serrrlary of Stale; and the committee was discharged, and the bill recommitted lo ilia criminate, on Finance. Mr. Holmes reported hack several bills from tin committee on Corporations, recommending Iti s pasa' ago of the same; and ilio bills were ordered to a third reading. Mr. Holmes also reported bark the bill to Incorp ale the Rnssville and llamillon Hydraulic Company arid declined to recomn.end lha passage of the same, Mr. Hnseltine addressed Ilia Senate in favor of Ilia object of lha bill, and in explanation of its provj. aione. Mr. Utter rnada somo remarks In opposition to tin bill, and moved its indefinite Dosliionemeut, The question was decided in the negative yeas 11 nays aa. Mr. Holmes addressed the Senate in opposition lha provisions of lha bill, and waa followed by Mr, uitsci, aito in opposition. Alter a lew remarks from Mr. ance, tha question was taken on ordering the bill lo a third readingapd urrioru m ino iiiriimtivn yeaa VI, naya IS., Mr. Godman reported back the bill to tuiwud the act to provide for Ilia protection of lira oanala of Ohio, wiin one amendment; which was agreed to, and ly uii viuercu 10 a imru reauuig. Mr. Srotl renorted back the bill in relation loa State road in the counties of Guernsey and Monroe; which was ordered lo a third reading. Mr. Henderson reported back the bill to prevent immoral practices, (in relation lo camp meetings,) wiih two amendments; which were agreed to. Mr. Glover moved to amend the bill so as to provide that no person offending against the provisions of the act, should lie apiirch, ndid without warrant. After some remarks bv Messrs. Glover, raran, Holmes, Ulter and other Senators, Mr. Glover with drew 1 lie amendment, and offered another, providing that the limits of the eamp nit't-li n u and provisions of llio law, should not extend more Ihan one mile; lost-yeas 4, nays 31. Mr. Glover offered s further amendment to the fourth section, which forfeits tho goods vested to the township; lost yeas 17, nays 18. .Mr. Hough moved to amend the bill by sinking out 1 davs, and inseriiii": Ihree months, aa the lime al lowed for reclaiming properly confiscated under the provisions of the act. Mr. liajeltme moved to amend tho amendment ny inserting "twelve months;" which ho allerwarus withdrew. Mr. Henderson called for a division of the question the amendment, and the Senile, refused to strike out yeas 9, nays 27. Mr. Glover then oflered an amendment to the 4lh section, by providing ihat nothing contained in ihe should prevent the right of appeal 111 all casta where the fine exceeded twenty dollars. Mr. Leonard moved to amend the amendment, by insening "in all cases" lost yeas 11, nays 25. Mr. Glover then moved his original amendment, "in cases in which Ihn fine exceeded twenty dollars." On ibis motion a debate took nl.icc between Messrs. Hough, Leonard, Utter, Bissel and Glover. .Mr. Scott called the previous question. Mr. Taylor addressed the Senate, and w is several times called lo order. A number of Senators insisted he should lake his seat, which he said he would do, when he got ready. Some further remarks were made by Messrs. Leon ard, Holmes, Scott, Hough, Humphreys and Root, Ihe latter gentleman requeuing Mr. Scolt to withdraw ins call lor Ihe previous question, in order Mint .Mr. Humphreys might be enabled to give his views on the provisions of the bill. Mr. Scolt withdrew Ins call, and Mr. Humphreys proceeded. Mr. Crowell renewed tho call fur the previous ques tion. Mr. Glover gave his reasons why ihe previous ques tion should nol be put. Mr. I homas replied lo Mr. Glover. I ha amend ments proposed by that gentleman had already been debated and voted upon, and Mr. T. thought lite course n hy ihat gentleman, justified the call for Hi o pre- ous question. Mr. Liter, opposed Ihe call, and gave his views at somo length. Mr. Crowell hoped Ilia call would be sustained. and staled lint Die bill bad been recommitted six times, and debated three weeks. Mr. Vance called Mr. Crowell to order, and that gentleman took his seat. Mr. V. gave his views of the previous question. I he tiiotton lo sustain Ihe previous question was then decided in the negative yeas 17, nays 19. The quesliun was then on tho amendment giving the right of appeal in sums over twenty dollars; and ihe amendment was lost yeas 13, naya S3. Mr. t aylorollered an amendment to the 4th section. providing that if lha owner of said property seized should be prevenled by sickness from claiming Ihe residue, within the lime prescribed, he shall claim it when such disability shall be removed ; agreed lo yeas 21, nays 15. Mr. Hunt moved a reconsideration of Ihe vote. The motion to reconsider was agreed to yeas 30, nays 6, The resolution was modified by Mr. Root, allowing ten days to claim lha properly, or Ihe residuo thereof. after the disability of the claimant, shall be removed. Mr. Utter addressed Ihe Senate lo favor of the amendment. Mr. Bissell movrd to recommit the bill to Messrs. Ulter and Henderson. On this moiion the yeas and nays were called, and were yeas 9, nays 27. I he question was then on Ihe amendment, and Mr. Henderson cave his objections to its adoption, and the debate wns continued by Messrs. Missel and Taylor. Mr. liisscl moved lo recommit the bill, Willi instructions to strike out ten days and insert twenty in the amendment. Messrr. lioot and McLaughlin spoke against Ihe amendment, ihe latter gentleman alluding lo the lime occupied in making long speeches, and to the important subjects ihat were yel lo be decided upon by ihe Senate. Mr. Thomas replied to the remarks of Mr. M'Lauuh- tin, and was opposed to the amendment, and to tha re commitment of tha bill. Mr. Henderson made a few remarks, and Mr. Glover asked for a call of lbs Senate, and Ihe absentees ex cused. Mr. Paran called for the previous question; which was sustained yeas 21), nays 15. The question was then put on ordering the bill to a third reading, and decided in the affirmative yeis 30, nays u. 1 lie Senate took a recess. 3 o'clock, V. M. Mr. Bissel reported back the bill to repeal the seve ral ana incorporating the town of Churdnn, in the county of Geauga, and the bill was ordered to a third reading. Mr. Lord reported a bill lo amend the charier of the cilv of Cleveland. Mr. lioot reported back the bill lo amend the aol to regulate sales at auction. Mr. raran moved lo lay the bill on tho table; which was agreed In. I he bill lo amend the act to incorporate ihe Ports. mouth and Columbus Turnpike Company, was read a third time and parsed. Also, the hill t incorporate the First II mlisl Church of Clinton, Huron county. Also, the hill lo amend the act to regulate lliepraclio a of Judicial Conns. Also, Ihe bill lo cbangn ihe name of Clirisii.in Tievul, Also, a bill lo authorize Ihe trustees of Ihe Methodist Kpiscopal Church in the town of Waynesville.in lha county of Warren, lo aall certain prnptrty; the title of which was amend ed. Also, the bill to change Ihe name of William IliiTiard. Also, the bill In establish a graded Stale road, heretofore laid out in the counties of Monroe and Gucrnsoy. Also, the bill to incorporate the town of Uellville, In the county ot Monroe. Also, the bill lo incorporate the United Brethren !n Christ's Church, in , Perry county. Also, the bill to incorpo rate the town of Vienna, in tha county of ; which was laid on Ilia table. Mr Haseliine moved to take up the bill lo inoorpn. rate a Presbyterian church in Ultra, in Ihe county of Licking; and the lull waa passed. Mr. Mitchell moved lo take up ihe bill lo Incorpo rate a Fire Company in Hagerstown, in lha county ol Carrol, and the amendments having been agreed lo the bill was ordered lo a third reading, Mr. Ilaseltine reported a bill to amend an aot to re gulule pedlars.. Mr. Patterson moved to recorsider the vote on the bill lo change ihe name of John Evans; and llio bill was laid on Ilia table. On motion of Mr. H:uria,the Senate again took up the bill lo change the name of John Evans to that of John Lewis r.vana, and Ihe yeaa and nays having been called on ordering the bill lo a thiid reading, it was agreed lo yeas 19, nays 13. Mr. Dissel moved a call of Ihe Senate, and the ab santees were sent for. Mr. Crowell offerrd a resolution instructing the com aiillee on Schools and School Lands In bring in a bill authorising lha Courts of Commen Pleas to make such alterations In Ihe School districts as they may think proper; which was indefinitely postponed. On moiion of Mr. Harris, lha Senate took up the bill lo Incorporate the Grand Lodge or Ohio, Mr. Carpenter offered an amendment to tha bill pro. tiding that Ihe Grand Secretary should make certain reporta lo llio Legislature; on which amend men is Ihe yeas and rays wen called, and were yeas 4, nays J2 Mr. Holmes moved to recommit the bill to the com mittee on Corporations; which was agreed to. Mr. llissel reported back t lie bill changing Ihe names of certain persons by the name of Sheep, without amendment, and the bill was ordered to a third reading. On motion of Mr. Sill, Ihe Senate took up Ihe bill 'or the relief of Stephen U. Culler, and others, an J the hill was passed. On motion of Mr. Nash, the Senate look up the bill authorizing Ihe erection of a biidge over Federal creek, Alliens county; and the question being on receding from a certain amendment rnsde hy the Senate, it was decided in the negative yeas 1G, nays 1G, and the Senate agreed to insert their amendment. 1 be Senate adjourned. HOUSE OF REPRESENTATIVES. Saturday, March 13. 1841. The House met pursuant lo adjournment. mm rata tlic Irurd lime and imucl. A bill to incor porate the Iterkshire Kilucaiina Society. A bill, to incorporate the First Congregational Society of Cleveland. A bill to amend the act to allow writs of error in civil and criminal cases. A bill to incorporate the First Universalis! Church and Society of Newark, Licking county. A bill to authorize the Trustees of the Methodist Episcopal Church of Hebron, Licking county, to sell the church and premises here tofore occupied hy said church, for the purpose of finishing a new Church. A bill to amend the act for the incorporation of ihe town of Middlcbury, in Summit county. A hill to amend the act to incorporate Ihe Geaooa Iron Company, passed January 7th, 1826. bill to amend Ihe act to Incorporate the Manufac turers' Insurance Company of Cincinnati. Itrpirlt nf standing Vimmtlletl Mr. Ultss, lo whom was referred the resolution of inquiry into ihe expediency of so amending the laws regulating Jus tices tees, that tees should be allowed for docketing transcripts, reported adversely to the same, and Ihe committee was discharged. Mr. Bliss, also, to whom was referred the pennon or an alteraiion of certain streets and alleys in Gran ule, reported adversely to the same, and the coinmii- lee was discharged. Mr. llliss, also reported adversely lo the resolution of inquiry into Ihe expediency of so amending ihe law in relation to judginenle and executions as lo define mure particularly the cases in which Sheriff's may be amerced, and lha committee was discharged. Mr. bliss, to Whom was referred the Senate resolu tion in relation to a Stale Itoad from Ihe N. W. cor ner of Columbiana county to Canton, recommended thai the same be postponed until the first Monday in December next; which was agreed to. Mr. Llliss reported hack ihe bill to amend the act providing for the proof, acknowledgment, and recording of deeds and other instruments of writing, and the same was indefinitely postponed. Mr. Hartley, lo whom was referred ihe resolution to inquire into the necessity of amending the law pro viding lor ihe distribution ot this stale's proportion or Ihe surplus revenue, reported sdversely to the same, and Ihe committee was discharged. Mr. Grtswold reported a bill making appropriations for Ihe year 1841 ; read the first lime. Mr. Marsh reported back Ihe bill to incorporate the Columbus, Winchester, Jefferson, and Carrol Road Company, and lha same was ordered to a third reading. Mr. Perkins, to whom was referred the petition of Samuel Hell, jr., asking a divorce from his wife Mary Anne Dell, reported adversely to the same and the committee was discharged. Mr. Perkins reported bark the senate resolution for Iht relief of Geo. Eby of Hocking county, and the same was agreed lo. Mr. Hums reported a bill supplementary to the act to provide for ihe distribution of the publio arms ; which was read the first time. Mr. Shober reported back the hill lo erect the new county of Cheater, '.to be taken from Washington, Athens and others, and the same was indefinitely postponed. luvoru of Select Lummttlcti. Mr. Wood reported back Ihe hill to incorporate lha First Presbyterian Church of Lower Sandusky, Sandusky eoumy, and recommended Its indefinite postponement; which, on his recommendation, was agreed to. Mr. McAnelly reported back the bill to provide for a sale of school section 1G, in Jackson township, Hancock county, with sundry amendments; which were agreed to. 1 he question arising on the passage of the bill, the same was lost yeas 30, nays 32. Mr. Spindler reported back Ihe Senate hill providing' for Ihe sale of certain school lands in Richland and Knox counties, with amendments; which were agreed The question arising on the passage of the bill, the same wns Inst yeaa 30, naya 32. Mr. Wheeler, from Ihe committee on Common Schools, reported hack Ihe bill to establish a new school district in Portage county, with sn amendment striking out all after the enaiing clause, and inaerting a bill of a general nature on the subject of laying off school diatricls. The smandment was agreed to, and the bill ordered to a third reading. A resolution was received from the Senate appoint ing James Huge a Trustee of ihe Ohio Institution for tha llllnd ; to which Ihe House agreed. On motion of Mr. Clarke, lha bill to amend the act to provide for Ihe erection of a bridge acmes Dig Indian Creek, at Point Pleasant, Clermont county, waa taken up and ordered In a third reading. On motion of Mr. Hell, the vale luken yesterday which rejected ihe bill aecuring Ihe benefit of the writ of habeas corpus, and repealing all acta heretofore passed on the subject, waa reconsidered, and Ihe hill waa recommitted to the standing committee on the Judiciary. (in motion ot Mr, Dell, the House look up the bill to provide for the payment of debts now due counselors on Public Works, and fur the further prosecution of said works. I'he question arising on sgreeing to the motion of Mr, Wurthington, (for which see reports of afternoon session, March 12,) slier soma time spent in considering the same, Ihe House took a recess. 3 o'clock, P. il. The House again met. The consideration of lha bill under discussion when the House last took a recess, waa reaumed. Tha question arising on Mr. W'orihinglon'a motion to recommit the bill with instructions, ihe same waa discuased hy Mesara, llrough, Wurthiuglon, Gria- woiu, ami Cooke, in later ol, and by Measrs. Marah, Dell, and Hamilton, against Ilia same. A division of Ihe question having been called, Ihe question arose on Ihe recommitment w ithout the in structions; which prevailed hy the following vote : Those who voted in the affirmative were Messrs. Alen, Baldridge, Hartley, llrough, Hums, Cooke, Dunn, Florence, Giddiugs, Griswnld, Hoekin-berry, Israel, Jenkins, Johnson, of Cuyahoga, Johnson, if .U.iiroe, Kaylor, King, Lawrence, Mnrris, McAnelly, McGugin, ltaffensperger, Iteece, ltiblal, Seotl, if (,'recnc, Shreve, Smith, if Slark, Spindler, Sirenter, Stinson, Warren, W eaver Wheeler, W ilson, and Worlhingtnn 35. Those who voted in the negative were Measrs. Allen, Hell, llliss, Urown, Carpenter, Clarke, Cochran, IHinham, llamillon, Hawkins, I tinkle, I. amine, Marsh, Moore, Nye, Perkins, Pollock, Pn.bu.ro, Reeves, Reynolds, Rubbina, Seotl, (i(Va- on, Shober, Smith, of JJnm; Toland, Vincent, Van vorbes,. v alktns, Welch, loung, and Speaker at. The qusaiioii then arising on agreeing to the instructions, amendments were offered hy Messrs. Hamilton and Perkins, who advocated their amendments at aoma length. The House waa also addressed hy Mr. Grisweld but before any vote was taken, Tha House adjourned. In ihe repnrla nf lha forenoon session, March 13, Mr. Marsh should be reported aa having first made die charge that A. W. Morrison wns an intemperate man. Mr. Jenkins alao ataird that Mr. Morrison was now a respsoiable man leaching school in Jefferson county. THE BANKING QUESTION. SPEECH OF MR. WM. L. PERKINS, OF LAKE COUNTV, On Iht pauagc if the Bill to incorporate the Slate Bank if Ohio. Ik thk House op RteaesKNTATiVEs, Fso. 18, 1811. During the pendency of the question on the final pas sage of Ihe bill, Mr. P. addressed the House as fol lows : Mr. Speaker: The suhlecl before tho House is nf such magnitude sad importance, and the discussion hy the opponents of Ihe bill, both upon its engrossment, and now on its final passage, has been so broad, that an illimitable field is open before me. I cannot expect, and I could hardly wish to occupy the whole of it. yel it is my intention to discuss the bill on its mer its, unuer ihe loiiuwing topics: I. The importance to the community of a medium of exchange, and of a system of credit. II. The necessity and superior advantages of a portion of Ihe currency being of paper. III. That Ihe bill affords Ihe three grand requisites necessary to all paper currency. I si. Security to Ihe bill bolder. 2d. Socuritv and adequate returns to capitalists. 3d. ne uesi puunc imercBi, uy me supervision or the Hoard of Control, and the uniformity of the cur rency. .My first position I shall best arrive at hy a discur sive examination of llio advance of aociely through us progressive siages. In tho early history of a country, its inhabitants are sparsely scattered over a wide territory, destiiule of roans, villages, uianulacturra, market, and shops. Each family produces just what it needs for the wants of life. If any produce more than he wants, it perishes on his hands, for no neighbor requires his surplus, and he has no means uf seeking a distant market, As population increases, production increases. One raises more wheal than is necessary for his own use, and seeks nut a neighbor who wants wheat, but who has a surplus of flax, and so commences the first business of exchange. Exchange of commodities continues to be the only mode of doing business, till lurlher increase ol population enhances personal safety and security of property, and In ihe same proportion pruductinn is increased. As society advances, Ihe surplus prod uciions are exchanged fur labor and art roads are constructed part of the produce is invested in wagons and horses, which are loaned lo the producer to transport his crops lo market, Ihe owners of tho wagons, tie., taking part of the produce fur Ihe use of them. Thus the wagon and mad are the medium of exchange. The toil and expense of transporting a heavy commodity tn a distance, to exchange in pay for another, is beginning to he seriously fell. A portion of I he community, being laborers and,mechanics,are not producers, and the exchange ot their labor anil arts into produce, for the purpose of re-exchange, is attended with such expense and delay that the avails of their industry and toil is exhausted before it becomes useful to them. A common representative of value and a less expensive medium ol exchsnge is sought after, and in different communities is first found imperfectly In wampum, wheat, tobacco and shells, which being however perishable and inconvenient, gold and silver come to be the measure of value in all civilized na tions. Division of labor now tnkes place. The business of society is divided, and its niizens bclake themselves lo different employments, as planters, graziers, mechstiics, manufacturers, traders, Htui merchants. Shops for the supply and sale of commodities are established, and finally shops for the purchase and sale of money. Now he who trades in produce lakes money to ihe producer and pays him for his wheat. The prmliiner carries his money thus obtained lo the shops and procures for it his necessary supplies of whatever else ha slsnds in need, and is thus saved i lie lime mid expense nf hauling to a distance his heavy couunodi. ties for exchange and re-exchange by the former cumbrous medium of exchange, the road mid wagon. Money now doing ihe same office, has in truth become Ihe medium of exchange. Tune and expense to the producer and mechanic and laborer is thus saved, and they are enabled ti retain moru nf their several productions. They look abroad for a market. Transportation of gold and silver from country to country becoming unnecessarily expensive, bills uf exchange are aubslilulrd between merchants. As society Incomes more dense, exehsnges at home become rapid, and it is found that valuable lime is wasted and uune. eessary labor expended in ihe exchanging and counting of coin. They who have it, therefore, deposile it vit the money shop and take certificates of deposile, which they pass imo the hands nf those of whom they pur chase commodities. Hut these are found inconvenient, because in smaller purchases they require subdivision, and much lime la sacrilieed by running lo Ihe shop lor that purpose. To meet this evil, Ihe money is left lit the shop, and checks for such pari as is wanted are drawn, and being endorsed, pass from hand tn hand; and now a thousand dollars in Ihe hank, may, by Ibis ingenious devise, be made top'rlomi hundreds of ex changes in a day, whereas if it were necessary to count nut the money for each operation, but few could be accomplished. In order to Insure the confidence ol the laborer, Ihe mechanic, and Ihe small dealer, the depositee should be well known. They must he confident of Ins ability and willingness tn convert llio paper into specie on demand, and the viclnuy or the shop must be such as that it is of ready access. For this purpose, other ahops for the purchase and sale of money, and which in our times are called nanus ni circulation, whoso notes are small, are substituted. Whoever receives one nf their notes, is thereby certified Ihat he has as many dollars in deposile at Ihe shop as his note specifies, and as often as tho note changes hinds, just so often the deposile is changed along with it, without Ihe trouble of new entries. Now confidence nf man in man Is increased. The number of shops nf every kind are multiplied. Facility of obtaining rredit for Ihe use of commodities, and of machinery for Ihe aa. aistance nf Inhor, is increased. For he who has rani- tal, either of his own or by borrowing, invests it in rnada and vrssela and other mediums lo assist trans pnrtatinn and exchange. He lends the use of these means to Ihe laborer and producer, and lakes part uf the results of their labor for lha use, or he hires lha laborer in his factory and lakes Ihe whole of Ihe produce and pays part uf the profile lo Ihe laborer. As shops and factories multiply, less capital is ne cessary for Ihe business ot life, and less mnney li unproductive. For a man distani from a shop or fie. lory, snd whose family requires for ihe year one huu dred dollars wonh of the article In he obtained there. cannot bear Ihe expense uf Ihe journey uficiuy than once a year. He therefore has tn invest his mm hundred dollars at once, which Ilea idle of coursu dur ing the remainder of Ihe year. Hut if Ihe nln where the commodity la to be had ia near at hand, ha purchases at one lime hut a week'a supply fir two dollars, anil lias Ins ntneiy-elglil dinars in use fur Ihe purpose of producing. Just so it ia with tho mauu farturer or merchant who lives nraror remole from the mnney shops. If near, he needa lo keep no morn money on hand than 111 dally necessities require So wilh those who need mnney to facilitate exchanges The surplus lies at ihe money ahop in deposile, or ia sealed in stocks, and ill use is anld out lo assist production. Hence, Ihe greater Ihe confidence i hanks, cheeks and bills, lha less gold and silver necessary for exchange, and the more is used in pr ducilon, Credit is now fully established, and when established it proves two things : First, public mnrali ty men rely on Ihe promisee of Iheir fellow-inen, Second, public prosperity. Such, Mr. Speaker, has been the progress nf socio ly, production, and ereiltl In Ihe I nttrtl Stale The history of banks, of loans, riepnsiies, discounts and circulation in ma tinned Slates, is the history ol a people emerging from infancy, cheeked in all its in- piratiuns after a stition among the nations of the eunh by a siep-ninther country, and atruggling sgniuat the dominion ol the wililness or nature, al length triumph ing over both. From Ihe eharlerinir of Ihe first hunt nf Norlh America in Philadelphia, by the Cunfederv lion in Ii80, on the failure nf Government p aper, nil 1830, with little variation, it had been the lualihy call of publio exigency fur the defence uf the country, and to developo our national resources and empln , our industry. Between those two periods Ihey had in creased lo 328. Up to 1780 we had been wilhou their assistance. Our country then was 150 yoar "Id. Yet civilization waa confined to a comparative ly narrow atrip of oountry along the Allanlio ocean Tim laws of England precluded Ihe establishment ol banks. The Colonies asked fur them, nay, atlempteil lie ir establishment, but were prohibited. But witb their aid, by what astonishing progress our oountiy has become the wonder of Ihe world. It is in vain P. look into the history of the present or past ages for p parallel. In half a century our oommerce extends ti. every habitable portion nf the earth, and to every navigable aca. Our manufactured compete wiih those of Ihe most renowned nations nf Ihe world. Our literature has found its way lo the libraries of Eng. land, France, and Germany. The industry and enterprise of our citizens aru proverbial. Ilefore the progress of civilization, the barbarian of the wilderness baa retired towards the selling sun; the mighty forests of Ihe great west have bowed their head tn the slurdy alroke of the woodsman; and Ihe laud which a few years since echoed to Ihe shrill whoop of the Indian and the howling of Ihe wolf, is now vocal with the lowing of kine and the busy hum of social life. To assist the fanner and mechanic in (he transportation of their productions lo market, and bring back machinery lo assist their future operations, and merchandise) for Ihrir comfort and enjoyment, the country is filled and intersected with turnpikes, rail-mads and canals. A lithe of these great things, Mr. Speaker, could not have been accomplished without the aid of banks, Unaided hy their issues, our due proportion of all tha precious metals in the wor d would have bounded the wesiern progress uf oivilizaiion at this time by a line far east of the beautiful city we now occupy. In 1811 there was in the United Slates but glO.OIIO.OOO of specie. In June, 1812, war was declared against Great Urilain. The nation was without treasures, and involved in debt. There was no Bank of the United States to lend its aid. The local banks came generously up lo the rescue and furnished Ihe Government with funds on long loans, al a lime when Ihe Treasury notes would not purchase supplies for the arrny. Yes, sir, wh"n Treasury notes, those boasted promises or Government, were al 20 and even 30 per cent, discount, the hills nf these " knavish banks," these rags," sustained the Government, and safely carried it through its conflict wiih that powerful nation. Had the gentlemen who oppose this Hill, and ho, I bough they say Ihey are in favor nf a good hanking sylsem, yet whose arguments go to lite annihilation of nil banks, and who cite detached senten- of Mr. Gallatin s ' Considerations," looked a lit- e further, Ihey would have seen thai he avera that without' ihe assistance of the banks Government could not have sustained the war. Al Ihe close of the financial year of 1839. the spe- ie in llie United States, taking the aggregate nf Ihe heat authorities, could not have exceeded 70,000,- 000. This would be about $4 12 fur each individu- nf the United Stales. The close of ihe past yoar shows that quantity re- need $15,000,000. Hut, .Mr. Spraker, let us estimate it at 70,000,000, and consider the condition of affairs at that. Gentlemen who feel such horror of banks must not he startled, though ihey should find nearly the whole of this sum necessary for carrying on the affairs of the Gen eral and Mate Governm-nte. About 40 millions pass through the Treasury of the United States annually. It cannot be estimated Ihat less than 15milli ns annually pass ihrongh the Treasuries of the individual Stales. This will leave 15 millions unembarrassed for all the business of life about three millions more than is sa'd by the late Governor in his last message, In he necessary for Ohio alone. Hut it it said truly that all the funds necessary for ihe year's supply are not idle in Ihe Treasury ; yet it is granted that from five loten millions may often be so accumulated. Now tn keep up this supply, constant currents nf coin must he Mowing towaids the I reasury, and the moment a shilling is paid over lo the Poal-master of Ihe village, Is as effectually out of circulation as if already in Ihe coffers nf Government. It follows, ihat lo keep p the supply, there must, fur the General Govern. inenl, be constantly abstracted from circulation, and in, and ou iis way lo lie Treasury at least 30 millions, and for the State Governments an aggregate of five millions. There is left, then, for all the business f exchange, production and improvements, ihe sum f 35 millions, or about $2 35 per head of our popu- anon. II, alter all, we deduct the 1 j,00O,0OO d- cre.isi) since Inst year, it presents a " beggarly account of empty" purses, truly. Hut, sir, let as look nearer home and see how much ourrency (and hero 1 speak of paper and specie both.) worn nirnisnes 10 ner citizens. According lo the Au ditor a alateinent, of twenty-six banks ihat reported to him December 3IHh, I8III, there was then specie in the vaul's, $ 1 ,052,707 93. Hy Ihe Hank Commissioners lienor!, lust laid on our tables, there is, in lha nine banks not reported to the Auditor, $302,821 71 Making in the vaults uf our banks, $1,355,590 17 II is calculated by meu of knowledge, thai there is specie in circulation about 500,000 00 Specie of Ohio banks, and specie, in cir- euiauon Jgl,H55.530 17 In this estimate, I do nol lake into consideration lha specie which may be hoarded, lor thai is as utterly useless aa though it yet remained buried in the mines. i'he population nf Ohio is 1,515,161 i so that the specie in circulation, snd the specie in Ihe vaults of our banks, affords $1,23 cents per head for lha popu lation in ine mate, lo accomplish all Ihe business of exchanges, production, improvements, and Ihe payment of debts and taxes. A splendid fund truly, Mr. Spanker, for the great State of Ohio. Hut. sir. tho opponents of lint bill have, in loud and enthusiastic words, repeatedly, during this session, subjected Ihe precious metals In all Ihe lawa of fluids. Nay, in their exuberance of imagination, they have likened its operations to Ihe subsller fluid, the almosnhere. Create a vacuum say ihey, and gold and silver will flow in. For this they have high authority. Governor Shannon says, in his late message, "create a de- mauu mr ine precious metals, and as that demand increases they will flow in lo sslisfy il," "until, in the courts if time, it will form an every day currency for the people." Accord log to lha doctrine of these financiers, we are but lo be poor, and behold we are rich. We are bnl lo create a detiiiiiiiiin, and lo 1 sooner than we can wish, we are supplied ! What a treasure is poverty I What a glorious discovery! Why, sir, Aladdin's Lamp waa a fool lo it. What an enviable condition Ihe heretofore erroneously supposed wretched Lazarus must have occupied, when ho lay al ihe gale, feeding on criunba, the aympathelio dogs licking his sores, while ihe wealth nf the rich man was piled around and above him, were he mil indeed in imminent dan ger of a horrid destruction hy the rushing together nf the precious nietula lo fill the "vacuum." Hut, Mr. Speaker, have not the rcformera created demand enough in Ohiul Have we nol vacuum enough hem! W lien, O when, will the jingling current coma pouring in upon lis) "In the course nf lime," aye, "in the course of time!" It ia long since we first heard this rein-rated prophecy, sir, and yet it ia unaccomplished, I look forward through our own day, but discern no hope, 1 gate along down the vista nf ages, and I hear nnr children, gmwn old, proclaiming, "in the course of lime!" Slill further on, nur children's children anxiously wait, and repeat, "in the course of lime!" And yul further on, our children's children's children expect lha deluge of gold, and still reiterate, "in the course of lime 1" Mr. Spoaker, 1 invite Ilia gentlemen who oppose ua to leave ibis theme of fancy, and come down to sober reality. The preeinus metals are like any oilier com-niedny. That country which has productions to buy it wiih, and is not in debt, will have, to a certain smoinJ, their duo proportion; but those who have nothing in si ll, or are in debt, or the balance nf trade against thein, will have lulls. Thia truth, however, will yel remain, that of all the gold and silver currency In the world the share of Ohio can be no more than about $3,000,000. Yet, even by the admissions of Governor Shannon, in the ingenious document 1 have before quoted, Ohio needs a currency of at least $12,000,000. Let us examine further, air, and see bow admirably aha supplies It for her people. Tha Auditor's statement of the returns of the 26 banks, shows a circulation hy those banks of $3,584,311 uy eighi" other banks, taken from Ihe Commissioners repuri, - 1,111,739 $4,696,080 500.000 Add specie in circulation, Making in tha whole, 5,196.080 of bank paper and specie provided by the Legislature I Legisl of Ohio for all the purposes of government and the business of its citizens, amounting in the whole to $'1,43 per head of our population. But, sir, Ihe busi ness of Ohio is not done wiih such a modicum of currency. The deficiency is made up of notes from banks of other Stales, and unauthorized paper of our own; lor it is not probable that less Ihan about 10,000,000 is in circulation. If so, we have of bills of banks of other Stales four and a half millions of dollars, which will leave $303,920 of unauthorized paper. Calculating that the banka of other States make on their circulation eight per cent., our unwise legislation compels the people of Ohio lo pay to the other Slates for Ihe use of Iheir paper $360,000 per annum, which might just as well be retained at home. If our actual currency, made up as 1 have supposed, amounts to $10,000,000, it affords Isss ilian $7 per head for our population. By tables before me, compiled with great care from high authority, I find, air, that in 1830, a time of financial health, the currency furnished to their citizens by the several Slates which I am about lo mention, was as follows: In Rhode Island, $16 per heal of population. Massachusetts, 12 " " Connecticut, 8 " " Now York, 12 Pennsylvania, 11 " " Maryland, 9 And this waa irrespective of tha issues of the Bank of 'he United States, which then had a branch in each nf those Slates, with a generous circulation which materially increased Ihe currency. Ten dollars per head of our population would require a currency of between fifteen and sixteen millions of dollars. This we need. Our people, overwhelmed with embarrassment, in debt abroad, in debt to the banks, in debt to each other their properly is every day sacrificed under the hammer of the Auctioneer and the hammer of Ihe Sheriff, They are fertile in enterprise, affluent in lands, and rich in production; but they are detlitute, for want of a currency, nf the means of exchange. Thia it is the duty of Ihe Government lo furnish them. The Father of his country said, whenever there was not enough currency for the exigencies of Stale and the business of citizens, the fault was to be attributed to government. The people ask fur relief they demand it. At this time, sir, there is, throughout tha Stale, a feverish anxiety for a banking system. To Ihe carrying of their wishes into effect, what it objected 1 First, it is said that bank stockholders are wealthy aristocrats, preying upon the laboring poor. Sometimes they are gamblers and shavers al others, they are bank rogues. Aristocracy, Mr. Speaker, is an evil of which a free government is never in danger. The history of Ihe world shows that monarchy is the opponent of de mocracy, but arialocracy never. Why, sir, we have not the least feature of it not a vestige of either arialocracy of blood, aristocracy of wealth or of learning. It is true, we may look back wiih satisfaction upon generations of fathers who have been distinguished by their virtue and public services; and il is no small pari nf iheir reward that Iheir good name shouM descend to Iheir children should throw around them a circle nf friends willing to return the benefits bestowed nn community hy good men, to Iheir offspring, Uul his is no enviable station; the world expect more of liim, and if he disappoint them, he falls below Ihe son of the humb!e. Hence, often the sons of distinguished men occupy tho lowest stations, or no station, while Ihnsn of the humblest occupatinns rise to the most exalted. The rnads lo distinction are common highways in our government, open to all, leading directly from Ihe hearth-stone of every citizen. So of wealth the son of Ihe serving man, the runner nf errands acquires wealih and distinction. The poor boy William Gray went to Boston, found employment in a store as a mere runner nf errands, and became the rich Hilly Gray, the owner of millions. John Jacob Astnr, who sold his furs in a little front shop, with one small mom for his dwelling in the rear, his table, a plain oaken hoard, destitute or a covering, and furnished with black eartbernware, is nnw the wealthiest of the land. No parent is so obscure but his sous, by iheir own unaided tfforls may arrive at the pinncle of literary fame. Horn in a hovel, bound lo a mechanic, Jared Sparks is the pride of out nation, and occupies a liih place in Ihe learned aorielira of Europe. The Massachusetts Black-smith ranks among our most exalied literati, and holds collegiate honors the master uf fifty different languages, while yet the snvil rings beneath his hammer. Such ia tha geniua of our free and glorious institutions. Talent may mske a temporary distinction, but the next month or year, or generation at farthest, reduces all to a level. Like our own beautiful lake, which may for an hour be raised into lire gualiiiea, but when Ihe occasional wind subsides, its waves retire loa placid level. But, sir, holders of bank slock in our country are not Ihe avaricious, nor the wealthy. 7Vy hold iheir money for exorbitant interest and usurious contracts. It ia the weak, the aged, unprotected females, mechanics, merchants and traders of Small capital, and farmers, who Invest their funds in American hanks for aafely and an adequate return. I avail tnysulf of the 2d volume of Cury'a Political Economy, from which I read t " It appears from a careful examination, that of tha slock of all lha banka in Portsmouth, N. H., eix in number, and comprising an aggregate of 11,045 shares, there are owned hy Females 3,138 Government ofR- Mechanice - . 673 cera .... 438 Farmers & laborers 1,215 Mariners 434 Savings' Bank 1,013 Merchants 2,038 Guardians ... 630 Traders .... 191 Estate 307 Lawyers ... 397 Charitable institu- Physicians ... 336 lions .... 513 Clergymen. - - 220 Corporations and State-.. 157 Total shares 11,045 Six other banks in New Hampshire show about tha asme proportion of ownership between the different classes I'he whole number of stockholders of tha Bank cf Ulica, N. Y., it 191, of whom 28 are farmers, 18 merchants, 13 trustees of estates, executors or guardians,45 females, generally unmarried or widows, 1 olergyman, 9 lawyers, 1 physician, 9 manufacturer! or merchant!, 4 civil engineers, 3 bank officers, 2 officers of V. S. Navy, 1 broker, I presbyierisn church, 1 school district, 17 sged persons retired from butineaa, 27 unknown, residing out of tho Stale. 191 More than one fmirlh nf the whole capital stock of the banks in the Slate of Massachusetts is held by females, trustees, guardians, executors and administrators, and insiiiuilons for savings. Tha proportion ia as fellows : Amount of slock held by Females, $.1,831,011 83 Do. hyTruilees, . . - 2,fi.'5.6l(l 67 Do. hy Guardians, . . - 688 015 17 Do. hy Saving's Institutions, 2,2r5,534 33 Do, by Executort and Adm'rt, 692,519 17 $9,995,747 17 But, it is said, however It msy ba otherwheres, In this Stale, bank stockholders are a different class. 7'Aey are rogues at nil events. We shall see, sir. Having heard su much on ihis floor uf lha worthless- Tht Pis, Ilia Rank of Oalllwlli, li omitted.

CW r4 I)t0 Journal. VOLUME XXXI. COLUMBUS, WEDNESDAY, MARCH 17, 1811. NUMBER 42. COLUMBUS; MONDAY', MARCH IS, 1841. LEGISLATIVE PROCEEDINGS. Saturday, March 13. In (he Senate to-day the bill to protect Camp Meetings was called up, and notwithstanding all the opposition that lias been exhibited towards it during tho winter, it was ordered to be engrossed by a vote of 30 to 0. In tho House the suspension provision in the appropriation bill, has been mainly under consideration, but without making much progress. UNSKNATORIAL CONDUCT. The Senate is growing disorderly. Tho indecorous scenes exhibited in that body on Friday and Saturday will scarcely bear repetition. We are awaro that the principal difficulty can be traced to the bad temper and domineering spirit of a single individual, who is at length finding his proper level, but docs not let himself down to it quietly. Members should not, however, forget what is due to self respect and to the dignity of their stations. C7The Statesman recurs to the subject of tho Inaugural Address, and asks us to do the Ualli-moro Sun "justice." We will do so by reiterating our conviction, that the Sun violated the confidence reposed in it, by forwarding copies of the Address to its western exchange, on the day previous to its delivery in tho Capitol by the President. That may not be the kind of justice which the Sun would covet, but it is all wo have to render. Now for the grounds of our belief: The Sun, containing tho Address, was received at Wheeling on Saturday morning. In the ordinary course of tho mail, without the employment of any express, it could not have left Washington or Baltimore before somo time on tho night of I hiirsday probably on Friday morning. 1 his would leave only ono day, or at most some thirty hours for tho transmission of the Address from Washington or Ualtimoro to Wheeling. Does any body believe, or pretend that the Address came through so far in so short a time, in the regular mail? Hut ngain: nono of tho other papers published at Washington or Baltimore brought an Address here until the Tuesday morning after i) was delivered. Now how is the fact that the Sun with tho Address reached here on Sunday morning two days previous to bo accounted for, except upon the presumption that it was mailed one day in anticipation of the delivery of the Address. It admits or no oilier explanation, and the Statesman makes no pretence that it is susceptible or any other. That print says it will not let tho subject pass. We have very little disposition to permit it to rest ourselves, until whatever of mystery thcro is about it shall bo cleared up. Tho Sun's copies are said to have been printed at the Mailisonian office. We have no doubt that the confidence of the Madisouian has been violated in this matter, and we hope tho editor of that print will aid us in fcrroting out the facts. Doth the Washington and llaltimore papers owe it to themselves to in' form their Western readers how it happened that the Aim should havo anticipated them in the transmission of such an important and unfrcqucnt document, as an Inaugural Address, by tho whole sum ol two (tails. If the Sun itself can explain this matter any more satisfactorily, then we shall be ready and willing to correct any erroneous impressions we may have made, but wo cannot change our prcs ent opinions until wa have some reasons for doing 10. IrT'The Statesman lias just waked up to the irregularities in the mails. During the whole winter, the mail has been regular in nothing but its failure as often as (.nee in three times, and that print has just found it out. Tho Statesman will please to remember that all tho Post masters, Con' tractors, and Agents of the Department are slill tho same that they have been all along, and that no improvements can be expected until tho Van Uiircn subordinates havo been ejected. Wo have to-day. (Saturday,) no Washington papers ot a later dato than 1 riday of last week and none from llaltimore later than Monday, lly tho latter wo learn that tho members of the Caw net had been confirmed by the Senate. ICThe mails seem terribly deranged between New York and the Statesman ollice. Wo are ahead of the State Printer about a week, with the intelligence of Ilnit't defalcation, and the bunt ing n( of the Sub-1 rcasury. OHIO LEGISLATOR E. SENATE. SATi'anAV, March 13, 1641 Th Senate met pursuant lo adjournment. Petitions who presented by Messrs. Hnseliine, Lord, Hosteller, Glover, Sill, Hunt, Bissel and Her- kins which with disposed of. Mr. Hough reported hack lha bill In invest certain escheated lands in the county of Hamilton; and the bill was recommitted to the Judiciary committee. Mr. Bissel reported back the bill in relation lo tha as.lt! of real estate ennveyed hy deed of truMi; and tha bill was postponed lo the first Monday in December next. Mr. Hough recommended tha postponement of the bill to encourage school district libiaries, until the first Monday in December next; agreed to. Mr. Hnugh made a similar report in relation to pe titlons frain i lie counties of Summit and Huron, for school district libraries: agreed to. Mr. Sill asked leave. In ha discharged from the fur titer consideration cf petitions from citiiens of Lucas, Williams and Henry counties, for the passage of law lo authorise tha levying of laxee for road purposes: agreed lo, Mr. llisacl reported bark the bill preecribing tha dutiea of Governor end Serrrlary of Stale; and the committee was discharged, and the bill recommitted lo ilia criminate, on Finance. Mr. Holmes reported hack several bills from tin committee on Corporations, recommending Iti s pasa' ago of the same; and ilio bills were ordered to a third reading. Mr. Holmes also reported bark the bill to Incorp ale the Rnssville and llamillon Hydraulic Company arid declined to recomn.end lha passage of the same, Mr. Hnseltine addressed Ilia Senate in favor of Ilia object of lha bill, and in explanation of its provj. aione. Mr. Utter rnada somo remarks In opposition to tin bill, and moved its indefinite Dosliionemeut, The question was decided in the negative yeas 11 nays aa. Mr. Holmes addressed the Senate in opposition lha provisions of lha bill, and waa followed by Mr, uitsci, aito in opposition. Alter a lew remarks from Mr. ance, tha question was taken on ordering the bill lo a third readingapd urrioru m ino iiiriimtivn yeaa VI, naya IS., Mr. Godman reported back the bill to tuiwud the act to provide for Ilia protection of lira oanala of Ohio, wiin one amendment; which was agreed to, and ly uii viuercu 10 a imru reauuig. Mr. Srotl renorted back the bill in relation loa State road in the counties of Guernsey and Monroe; which was ordered lo a third reading. Mr. Henderson reported back the bill to prevent immoral practices, (in relation lo camp meetings,) wiih two amendments; which were agreed to. Mr. Glover moved to amend the bill so as to provide that no person offending against the provisions of the act, should lie apiirch, ndid without warrant. After some remarks bv Messrs. Glover, raran, Holmes, Ulter and other Senators, Mr. Glover with drew 1 lie amendment, and offered another, providing that the limits of the eamp nit't-li n u and provisions of llio law, should not extend more Ihan one mile; lost-yeas 4, nays 31. Mr. Glover offered s further amendment to the fourth section, which forfeits tho goods vested to the township; lost yeas 17, nays 18. .Mr. Hough moved to amend the bill by sinking out 1 davs, and inseriiii": Ihree months, aa the lime al lowed for reclaiming properly confiscated under the provisions of the act. Mr. liajeltme moved to amend tho amendment ny inserting "twelve months;" which ho allerwarus withdrew. Mr. Henderson called for a division of the question the amendment, and the Senile, refused to strike out yeas 9, nays 27. Mr. Glover then oflered an amendment to the 4lh section, by providing ihat nothing contained in ihe should prevent the right of appeal 111 all casta where the fine exceeded twenty dollars. Mr. Leonard moved to amend the amendment, by insening "in all cases" lost yeas 11, nays 25. Mr. Glover then moved his original amendment, "in cases in which Ihn fine exceeded twenty dollars." On ibis motion a debate took nl.icc between Messrs. Hough, Leonard, Utter, Bissel and Glover. .Mr. Scott called the previous question. Mr. Taylor addressed the Senate, and w is several times called lo order. A number of Senators insisted he should lake his seat, which he said he would do, when he got ready. Some further remarks were made by Messrs. Leon ard, Holmes, Scott, Hough, Humphreys and Root, Ihe latter gentleman requeuing Mr. Scolt to withdraw ins call lor Ihe previous question, in order Mint .Mr. Humphreys might be enabled to give his views on the provisions of the bill. Mr. Scolt withdrew Ins call, and Mr. Humphreys proceeded. Mr. Crowell renewed tho call fur the previous ques tion. Mr. Glover gave his reasons why ihe previous ques tion should nol be put. Mr. I homas replied lo Mr. Glover. I ha amend ments proposed by that gentleman had already been debated and voted upon, and Mr. T. thought lite course n hy ihat gentleman, justified the call for Hi o pre- ous question. Mr. Liter, opposed Ihe call, and gave his views at somo length. Mr. Crowell hoped Ilia call would be sustained. and staled lint Die bill bad been recommitted six times, and debated three weeks. Mr. Vance called Mr. Crowell to order, and that gentleman took his seat. Mr. V. gave his views of the previous question. I he tiiotton lo sustain Ihe previous question was then decided in the negative yeas 17, nays 19. The quesliun was then on tho amendment giving the right of appeal in sums over twenty dollars; and ihe amendment was lost yeas 13, naya S3. Mr. t aylorollered an amendment to the 4th section. providing that if lha owner of said property seized should be prevenled by sickness from claiming Ihe residue, within the lime prescribed, he shall claim it when such disability shall be removed ; agreed lo yeas 21, nays 15. Mr. Hunt moved a reconsideration of Ihe vote. The motion to reconsider was agreed to yeas 30, nays 6, The resolution was modified by Mr. Root, allowing ten days to claim lha properly, or Ihe residuo thereof. after the disability of the claimant, shall be removed. Mr. Utter addressed Ihe Senate lo favor of the amendment. Mr. Bissell movrd to recommit the bill to Messrs. Ulter and Henderson. On this moiion the yeas and nays were called, and were yeas 9, nays 27. I he question was then on Ihe amendment, and Mr. Henderson cave his objections to its adoption, and the debate wns continued by Messrs. Missel and Taylor. Mr. liisscl moved lo recommit the bill, Willi instructions to strike out ten days and insert twenty in the amendment. Messrr. lioot and McLaughlin spoke against Ihe amendment, ihe latter gentleman alluding lo the lime occupied in making long speeches, and to the important subjects ihat were yel lo be decided upon by ihe Senate. Mr. Thomas replied to the remarks of Mr. M'Lauuh- tin, and was opposed to the amendment, and to tha re commitment of tha bill. Mr. Henderson made a few remarks, and Mr. Glover asked for a call of lbs Senate, and Ihe absentees ex cused. Mr. Paran called for the previous question; which was sustained yeas 21), nays 15. The question was then put on ordering the bill to a third reading, and decided in the affirmative yeis 30, nays u. 1 lie Senate took a recess. 3 o'clock, V. M. Mr. Bissel reported back the bill to repeal the seve ral ana incorporating the town of Churdnn, in the county of Geauga, and the bill was ordered to a third reading. Mr. Lord reported a bill lo amend the charier of the cilv of Cleveland. Mr. lioot reported back the bill lo amend the aol to regulate sales at auction. Mr. raran moved lo lay the bill on tho table; which was agreed In. I he bill lo amend the act to incorporate ihe Ports. mouth and Columbus Turnpike Company, was read a third time and parsed. Also, the hill t incorporate the First II mlisl Church of Clinton, Huron county. Also, the hill lo amend the act to regulate lliepraclio a of Judicial Conns. Also, Ihe bill lo cbangn ihe name of Clirisii.in Tievul, Also, a bill lo authorize Ihe trustees of Ihe Methodist Kpiscopal Church in the town of Waynesville.in lha county of Warren, lo aall certain prnptrty; the title of which was amend ed. Also, the bill to change Ihe name of William IliiTiard. Also, the bill In establish a graded Stale road, heretofore laid out in the counties of Monroe and Gucrnsoy. Also, the bill to incorporate the town of Uellville, In the county ot Monroe. Also, the bill lo incorporate the United Brethren !n Christ's Church, in , Perry county. Also, the bill to incorpo rate the town of Vienna, in tha county of ; which was laid on Ilia table. Mr Haseliine moved to take up the bill lo inoorpn. rate a Presbyterian church in Ultra, in Ihe county of Licking; and the lull waa passed. Mr. Mitchell moved lo take up ihe bill lo Incorpo rate a Fire Company in Hagerstown, in lha county ol Carrol, and the amendments having been agreed lo the bill was ordered lo a third reading, Mr. Ilaseltine reported a bill to amend an aot to re gulule pedlars.. Mr. Patterson moved to recorsider the vote on the bill lo change ihe name of John Evans; and llio bill was laid on Ilia table. On motion of Mr. H:uria,the Senate again took up the bill lo change the name of John Evans to that of John Lewis r.vana, and Ihe yeaa and nays having been called on ordering the bill lo a thiid reading, it was agreed lo yeas 19, nays 13. Mr. Dissel moved a call of Ihe Senate, and the ab santees were sent for. Mr. Crowell offerrd a resolution instructing the com aiillee on Schools and School Lands In bring in a bill authorising lha Courts of Commen Pleas to make such alterations In Ihe School districts as they may think proper; which was indefinitely postponed. On moiion of Mr. Harris, lha Senate took up the bill lo Incorporate the Grand Lodge or Ohio, Mr. Carpenter offered an amendment to tha bill pro. tiding that Ihe Grand Secretary should make certain reporta lo llio Legislature; on which amend men is Ihe yeas and rays wen called, and were yeas 4, nays J2 Mr. Holmes moved to recommit the bill to the com mittee on Corporations; which was agreed to. Mr. llissel reported back t lie bill changing Ihe names of certain persons by the name of Sheep, without amendment, and the bill was ordered to a third reading. On motion of Mr. Sill, Ihe Senate took up Ihe bill 'or the relief of Stephen U. Culler, and others, an J the hill was passed. On motion of Mr. Nash, the Senate look up the bill authorizing Ihe erection of a biidge over Federal creek, Alliens county; and the question being on receding from a certain amendment rnsde hy the Senate, it was decided in the negative yeas 1G, nays 1G, and the Senate agreed to insert their amendment. 1 be Senate adjourned. HOUSE OF REPRESENTATIVES. Saturday, March 13. 1841. The House met pursuant lo adjournment. mm rata tlic Irurd lime and imucl. A bill to incor porate the Iterkshire Kilucaiina Society. A bill, to incorporate the First Congregational Society of Cleveland. A bill to amend the act to allow writs of error in civil and criminal cases. A bill to incorporate the First Universalis! Church and Society of Newark, Licking county. A bill to authorize the Trustees of the Methodist Episcopal Church of Hebron, Licking county, to sell the church and premises here tofore occupied hy said church, for the purpose of finishing a new Church. A bill to amend the act for the incorporation of ihe town of Middlcbury, in Summit county. A hill to amend the act to incorporate Ihe Geaooa Iron Company, passed January 7th, 1826. bill to amend Ihe act to Incorporate the Manufac turers' Insurance Company of Cincinnati. Itrpirlt nf standing Vimmtlletl Mr. Ultss, lo whom was referred the resolution of inquiry into ihe expediency of so amending the laws regulating Jus tices tees, that tees should be allowed for docketing transcripts, reported adversely to the same, and Ihe committee was discharged. Mr. Bliss, also, to whom was referred the pennon or an alteraiion of certain streets and alleys in Gran ule, reported adversely to the same, and the coinmii- lee was discharged. Mr. llliss, also reported adversely lo the resolution of inquiry into Ihe expediency of so amending ihe law in relation to judginenle and executions as lo define mure particularly the cases in which Sheriff's may be amerced, and lha committee was discharged. Mr. bliss, to Whom was referred the Senate resolu tion in relation to a Stale Itoad from Ihe N. W. cor ner of Columbiana county to Canton, recommended thai the same be postponed until the first Monday in December next; which was agreed to. Mr. Llliss reported hack ihe bill to amend the act providing for the proof, acknowledgment, and recording of deeds and other instruments of writing, and the same was indefinitely postponed. Mr. Hartley, lo whom was referred ihe resolution to inquire into the necessity of amending the law pro viding lor ihe distribution ot this stale's proportion or Ihe surplus revenue, reported sdversely to the same, and Ihe committee was discharged. Mr. Grtswold reported a bill making appropriations for Ihe year 1841 ; read the first lime. Mr. Marsh reported back Ihe bill to incorporate the Columbus, Winchester, Jefferson, and Carrol Road Company, and lha same was ordered to a third reading. Mr. Perkins, to whom was referred the petition of Samuel Hell, jr., asking a divorce from his wife Mary Anne Dell, reported adversely to the same and the committee was discharged. Mr. Perkins reported bark the senate resolution for Iht relief of Geo. Eby of Hocking county, and the same was agreed lo. Mr. Hums reported a bill supplementary to the act to provide for ihe distribution of the publio arms ; which was read the first time. Mr. Shober reported back the hill lo erect the new county of Cheater, '.to be taken from Washington, Athens and others, and the same was indefinitely postponed. luvoru of Select Lummttlcti. Mr. Wood reported back Ihe hill to incorporate lha First Presbyterian Church of Lower Sandusky, Sandusky eoumy, and recommended Its indefinite postponement; which, on his recommendation, was agreed to. Mr. McAnelly reported back the bill to provide for a sale of school section 1G, in Jackson township, Hancock county, with sundry amendments; which were agreed to. 1 he question arising on the passage of the bill, the same was lost yeas 30, nays 32. Mr. Spindler reported back Ihe Senate hill providing' for Ihe sale of certain school lands in Richland and Knox counties, with amendments; which were agreed The question arising on the passage of the bill, the same wns Inst yeaa 30, naya 32. Mr. Wheeler, from Ihe committee on Common Schools, reported hack Ihe bill to establish a new school district in Portage county, with sn amendment striking out all after the enaiing clause, and inaerting a bill of a general nature on the subject of laying off school diatricls. The smandment was agreed to, and the bill ordered to a third reading. A resolution was received from the Senate appoint ing James Huge a Trustee of ihe Ohio Institution for tha llllnd ; to which Ihe House agreed. On motion of Mr. Clarke, lha bill to amend the act to provide for Ihe erection of a bridge acmes Dig Indian Creek, at Point Pleasant, Clermont county, waa taken up and ordered In a third reading. On motion of Mr. Hell, the vale luken yesterday which rejected ihe bill aecuring Ihe benefit of the writ of habeas corpus, and repealing all acta heretofore passed on the subject, waa reconsidered, and Ihe hill waa recommitted to the standing committee on the Judiciary. (in motion ot Mr, Dell, the House look up the bill to provide for the payment of debts now due counselors on Public Works, and fur the further prosecution of said works. I'he question arising on sgreeing to the motion of Mr, Wurthington, (for which see reports of afternoon session, March 12,) slier soma time spent in considering the same, Ihe House took a recess. 3 o'clock, P. il. The House again met. The consideration of lha bill under discussion when the House last took a recess, waa reaumed. Tha question arising on Mr. W'orihinglon'a motion to recommit the bill with instructions, ihe same waa discuased hy Mesara, llrough, Wurthiuglon, Gria- woiu, ami Cooke, in later ol, and by Measrs. Marah, Dell, and Hamilton, against Ilia same. A division of Ihe question having been called, Ihe question arose on Ihe recommitment w ithout the in structions; which prevailed hy the following vote : Those who voted in the affirmative were Messrs. Alen, Baldridge, Hartley, llrough, Hums, Cooke, Dunn, Florence, Giddiugs, Griswnld, Hoekin-berry, Israel, Jenkins, Johnson, of Cuyahoga, Johnson, if .U.iiroe, Kaylor, King, Lawrence, Mnrris, McAnelly, McGugin, ltaffensperger, Iteece, ltiblal, Seotl, if (,'recnc, Shreve, Smith, if Slark, Spindler, Sirenter, Stinson, Warren, W eaver Wheeler, W ilson, and Worlhingtnn 35. Those who voted in the negative were Measrs. Allen, Hell, llliss, Urown, Carpenter, Clarke, Cochran, IHinham, llamillon, Hawkins, I tinkle, I. amine, Marsh, Moore, Nye, Perkins, Pollock, Pn.bu.ro, Reeves, Reynolds, Rubbina, Seotl, (i(Va- on, Shober, Smith, of JJnm; Toland, Vincent, Van vorbes,. v alktns, Welch, loung, and Speaker at. The qusaiioii then arising on agreeing to the instructions, amendments were offered hy Messrs. Hamilton and Perkins, who advocated their amendments at aoma length. The House waa also addressed hy Mr. Grisweld but before any vote was taken, Tha House adjourned. In ihe repnrla nf lha forenoon session, March 13, Mr. Marsh should be reported aa having first made die charge that A. W. Morrison wns an intemperate man. Mr. Jenkins alao ataird that Mr. Morrison was now a respsoiable man leaching school in Jefferson county. THE BANKING QUESTION. SPEECH OF MR. WM. L. PERKINS, OF LAKE COUNTV, On Iht pauagc if the Bill to incorporate the Slate Bank if Ohio. Ik thk House op RteaesKNTATiVEs, Fso. 18, 1811. During the pendency of the question on the final pas sage of Ihe bill, Mr. P. addressed the House as fol lows : Mr. Speaker: The suhlecl before tho House is nf such magnitude sad importance, and the discussion hy the opponents of Ihe bill, both upon its engrossment, and now on its final passage, has been so broad, that an illimitable field is open before me. I cannot expect, and I could hardly wish to occupy the whole of it. yel it is my intention to discuss the bill on its mer its, unuer ihe loiiuwing topics: I. The importance to the community of a medium of exchange, and of a system of credit. II. The necessity and superior advantages of a portion of Ihe currency being of paper. III. That Ihe bill affords Ihe three grand requisites necessary to all paper currency. I si. Security to Ihe bill bolder. 2d. Socuritv and adequate returns to capitalists. 3d. ne uesi puunc imercBi, uy me supervision or the Hoard of Control, and the uniformity of the cur rency. .My first position I shall best arrive at hy a discur sive examination of llio advance of aociely through us progressive siages. In tho early history of a country, its inhabitants are sparsely scattered over a wide territory, destiiule of roans, villages, uianulacturra, market, and shops. Each family produces just what it needs for the wants of life. If any produce more than he wants, it perishes on his hands, for no neighbor requires his surplus, and he has no means uf seeking a distant market, As population increases, production increases. One raises more wheal than is necessary for his own use, and seeks nut a neighbor who wants wheat, but who has a surplus of flax, and so commences the first business of exchange. Exchange of commodities continues to be the only mode of doing business, till lurlher increase ol population enhances personal safety and security of property, and In ihe same proportion pruductinn is increased. As society advances, Ihe surplus prod uciions are exchanged fur labor and art roads are constructed part of the produce is invested in wagons and horses, which are loaned lo the producer to transport his crops lo market, Ihe owners of tho wagons, tie., taking part of the produce fur Ihe use of them. Thus the wagon and mad are the medium of exchange. The toil and expense of transporting a heavy commodity tn a distance, to exchange in pay for another, is beginning to he seriously fell. A portion of I he community, being laborers and,mechanics,are not producers, and the exchange ot their labor anil arts into produce, for the purpose of re-exchange, is attended with such expense and delay that the avails of their industry and toil is exhausted before it becomes useful to them. A common representative of value and a less expensive medium ol exchsnge is sought after, and in different communities is first found imperfectly In wampum, wheat, tobacco and shells, which being however perishable and inconvenient, gold and silver come to be the measure of value in all civilized na tions. Division of labor now tnkes place. The business of society is divided, and its niizens bclake themselves lo different employments, as planters, graziers, mechstiics, manufacturers, traders, Htui merchants. Shops for the supply and sale of commodities are established, and finally shops for the purchase and sale of money. Now he who trades in produce lakes money to ihe producer and pays him for his wheat. The prmliiner carries his money thus obtained lo the shops and procures for it his necessary supplies of whatever else ha slsnds in need, and is thus saved i lie lime mid expense nf hauling to a distance his heavy couunodi. ties for exchange and re-exchange by the former cumbrous medium of exchange, the road mid wagon. Money now doing ihe same office, has in truth become Ihe medium of exchange. Tune and expense to the producer and mechanic and laborer is thus saved, and they are enabled ti retain moru nf their several productions. They look abroad for a market. Transportation of gold and silver from country to country becoming unnecessarily expensive, bills uf exchange are aubslilulrd between merchants. As society Incomes more dense, exehsnges at home become rapid, and it is found that valuable lime is wasted and uune. eessary labor expended in ihe exchanging and counting of coin. They who have it, therefore, deposile it vit the money shop and take certificates of deposile, which they pass imo the hands nf those of whom they pur chase commodities. Hut these are found inconvenient, because in smaller purchases they require subdivision, and much lime la sacrilieed by running lo Ihe shop lor that purpose. To meet this evil, Ihe money is left lit the shop, and checks for such pari as is wanted are drawn, and being endorsed, pass from hand tn hand; and now a thousand dollars in Ihe hank, may, by Ibis ingenious devise, be made top'rlomi hundreds of ex changes in a day, whereas if it were necessary to count nut the money for each operation, but few could be accomplished. In order to Insure the confidence ol the laborer, Ihe mechanic, and Ihe small dealer, the depositee should be well known. They must he confident of Ins ability and willingness tn convert llio paper into specie on demand, and the viclnuy or the shop must be such as that it is of ready access. For this purpose, other ahops for the purchase and sale of money, and which in our times are called nanus ni circulation, whoso notes are small, are substituted. Whoever receives one nf their notes, is thereby certified Ihat he has as many dollars in deposile at Ihe shop as his note specifies, and as often as tho note changes hinds, just so often the deposile is changed along with it, without Ihe trouble of new entries. Now confidence nf man in man Is increased. The number of shops nf every kind are multiplied. Facility of obtaining rredit for Ihe use of commodities, and of machinery for Ihe aa. aistance nf Inhor, is increased. For he who has rani- tal, either of his own or by borrowing, invests it in rnada and vrssela and other mediums lo assist trans pnrtatinn and exchange. He lends the use of these means to Ihe laborer and producer, and lakes part uf the results of their labor for lha use, or he hires lha laborer in his factory and lakes Ihe whole of Ihe produce and pays part uf the profile lo Ihe laborer. As shops and factories multiply, less capital is ne cessary for Ihe business ot life, and less mnney li unproductive. For a man distani from a shop or fie. lory, snd whose family requires for ihe year one huu dred dollars wonh of the article In he obtained there. cannot bear Ihe expense uf Ihe journey uficiuy than once a year. He therefore has tn invest his mm hundred dollars at once, which Ilea idle of coursu dur ing the remainder of Ihe year. Hut if Ihe nln where the commodity la to be had ia near at hand, ha purchases at one lime hut a week'a supply fir two dollars, anil lias Ins ntneiy-elglil dinars in use fur Ihe purpose of producing. Just so it ia with tho mauu farturer or merchant who lives nraror remole from the mnney shops. If near, he needa lo keep no morn money on hand than 111 dally necessities require So wilh those who need mnney to facilitate exchanges The surplus lies at ihe money ahop in deposile, or ia sealed in stocks, and ill use is anld out lo assist production. Hence, Ihe greater Ihe confidence i hanks, cheeks and bills, lha less gold and silver necessary for exchange, and the more is used in pr ducilon, Credit is now fully established, and when established it proves two things : First, public mnrali ty men rely on Ihe promisee of Iheir fellow-inen, Second, public prosperity. Such, Mr. Speaker, has been the progress nf socio ly, production, and ereiltl In Ihe I nttrtl Stale The history of banks, of loans, riepnsiies, discounts and circulation in ma tinned Slates, is the history ol a people emerging from infancy, cheeked in all its in- piratiuns after a stition among the nations of the eunh by a siep-ninther country, and atruggling sgniuat the dominion ol the wililness or nature, al length triumph ing over both. From Ihe eharlerinir of Ihe first hunt nf Norlh America in Philadelphia, by the Cunfederv lion in Ii80, on the failure nf Government p aper, nil 1830, with little variation, it had been the lualihy call of publio exigency fur the defence uf the country, and to developo our national resources and empln , our industry. Between those two periods Ihey had in creased lo 328. Up to 1780 we had been wilhou their assistance. Our country then was 150 yoar "Id. Yet civilization waa confined to a comparative ly narrow atrip of oountry along the Allanlio ocean Tim laws of England precluded Ihe establishment ol banks. The Colonies asked fur them, nay, atlempteil lie ir establishment, but were prohibited. But witb their aid, by what astonishing progress our oountiy has become the wonder of Ihe world. It is in vain P. look into the history of the present or past ages for p parallel. In half a century our oommerce extends ti. every habitable portion nf the earth, and to every navigable aca. Our manufactured compete wiih those of Ihe most renowned nations nf Ihe world. Our literature has found its way lo the libraries of Eng. land, France, and Germany. The industry and enterprise of our citizens aru proverbial. Ilefore the progress of civilization, the barbarian of the wilderness baa retired towards the selling sun; the mighty forests of Ihe great west have bowed their head tn the slurdy alroke of the woodsman; and Ihe laud which a few years since echoed to Ihe shrill whoop of the Indian and the howling of Ihe wolf, is now vocal with the lowing of kine and the busy hum of social life. To assist the fanner and mechanic in (he transportation of their productions lo market, and bring back machinery lo assist their future operations, and merchandise) for Ihrir comfort and enjoyment, the country is filled and intersected with turnpikes, rail-mads and canals. A lithe of these great things, Mr. Speaker, could not have been accomplished without the aid of banks, Unaided hy their issues, our due proportion of all tha precious metals in the wor d would have bounded the wesiern progress uf oivilizaiion at this time by a line far east of the beautiful city we now occupy. In 1811 there was in the United Slates but glO.OIIO.OOO of specie. In June, 1812, war was declared against Great Urilain. The nation was without treasures, and involved in debt. There was no Bank of the United States to lend its aid. The local banks came generously up lo the rescue and furnished Ihe Government with funds on long loans, al a lime when Ihe Treasury notes would not purchase supplies for the arrny. Yes, sir, wh"n Treasury notes, those boasted promises or Government, were al 20 and even 30 per cent, discount, the hills nf these " knavish banks," these rags," sustained the Government, and safely carried it through its conflict wiih that powerful nation. Had the gentlemen who oppose this Hill, and ho, I bough they say Ihey are in favor nf a good hanking sylsem, yet whose arguments go to lite annihilation of nil banks, and who cite detached senten- of Mr. Gallatin s ' Considerations," looked a lit- e further, Ihey would have seen thai he avera that without' ihe assistance of the banks Government could not have sustained the war. Al Ihe close of the financial year of 1839. the spe- ie in llie United States, taking the aggregate nf Ihe heat authorities, could not have exceeded 70,000,- 000. This would be about $4 12 fur each individu- nf the United Stales. The close of ihe past yoar shows that quantity re- need $15,000,000. Hut, .Mr. Spraker, let us estimate it at 70,000,000, and consider the condition of affairs at that. Gentlemen who feel such horror of banks must not he startled, though ihey should find nearly the whole of this sum necessary for carrying on the affairs of the Gen eral and Mate Governm-nte. About 40 millions pass through the Treasury of the United States annually. It cannot be estimated Ihat less than 15milli ns annually pass ihrongh the Treasuries of the individual Stales. This will leave 15 millions unembarrassed for all the business of life about three millions more than is sa'd by the late Governor in his last message, In he necessary for Ohio alone. Hut it it said truly that all the funds necessary for ihe year's supply are not idle in Ihe Treasury ; yet it is granted that from five loten millions may often be so accumulated. Now tn keep up this supply, constant currents nf coin must he Mowing towaids the I reasury, and the moment a shilling is paid over lo the Poal-master of Ihe village, Is as effectually out of circulation as if already in Ihe coffers nf Government. It follows, ihat lo keep p the supply, there must, fur the General Govern. inenl, be constantly abstracted from circulation, and in, and ou iis way lo lie Treasury at least 30 millions, and for the State Governments an aggregate of five millions. There is left, then, for all the business f exchange, production and improvements, ihe sum f 35 millions, or about $2 35 per head of our popu- anon. II, alter all, we deduct the 1 j,00O,0OO d- cre.isi) since Inst year, it presents a " beggarly account of empty" purses, truly. Hut, sir, let as look nearer home and see how much ourrency (and hero 1 speak of paper and specie both.) worn nirnisnes 10 ner citizens. According lo the Au ditor a alateinent, of twenty-six banks ihat reported to him December 3IHh, I8III, there was then specie in the vaul's, $ 1 ,052,707 93. Hy Ihe Hank Commissioners lienor!, lust laid on our tables, there is, in lha nine banks not reported to the Auditor, $302,821 71 Making in the vaults uf our banks, $1,355,590 17 II is calculated by meu of knowledge, thai there is specie in circulation about 500,000 00 Specie of Ohio banks, and specie, in cir- euiauon Jgl,H55.530 17 In this estimate, I do nol lake into consideration lha specie which may be hoarded, lor thai is as utterly useless aa though it yet remained buried in the mines. i'he population nf Ohio is 1,515,161 i so that the specie in circulation, snd the specie in Ihe vaults of our banks, affords $1,23 cents per head for lha popu lation in ine mate, lo accomplish all Ihe business of exchanges, production, improvements, and Ihe payment of debts and taxes. A splendid fund truly, Mr. Spanker, for the great State of Ohio. Hut. sir. tho opponents of lint bill have, in loud and enthusiastic words, repeatedly, during this session, subjected Ihe precious metals In all Ihe lawa of fluids. Nay, in their exuberance of imagination, they have likened its operations to Ihe subsller fluid, the almosnhere. Create a vacuum say ihey, and gold and silver will flow in. For this they have high authority. Governor Shannon says, in his late message, "create a de- mauu mr ine precious metals, and as that demand increases they will flow in lo sslisfy il," "until, in the courts if time, it will form an every day currency for the people." Accord log to lha doctrine of these financiers, we are but lo be poor, and behold we are rich. We are bnl lo create a detiiiiiiiiin, and lo 1 sooner than we can wish, we are supplied ! What a treasure is poverty I What a glorious discovery! Why, sir, Aladdin's Lamp waa a fool lo it. What an enviable condition Ihe heretofore erroneously supposed wretched Lazarus must have occupied, when ho lay al ihe gale, feeding on criunba, the aympathelio dogs licking his sores, while ihe wealth nf the rich man was piled around and above him, were he mil indeed in imminent dan ger of a horrid destruction hy the rushing together nf the precious nietula lo fill the "vacuum." Hut, Mr. Speaker, have not the rcformera created demand enough in Ohiul Have we nol vacuum enough hem! W lien, O when, will the jingling current coma pouring in upon lis) "In the course nf lime," aye, "in the course of time!" It ia long since we first heard this rein-rated prophecy, sir, and yet it ia unaccomplished, I look forward through our own day, but discern no hope, 1 gate along down the vista nf ages, and I hear nnr children, gmwn old, proclaiming, "in the course of lime!" Slill further on, nur children's children anxiously wait, and repeat, "in the course of lime!" And yul further on, our children's children's children expect lha deluge of gold, and still reiterate, "in the course of lime 1" Mr. Spoaker, 1 invite Ilia gentlemen who oppose ua to leave ibis theme of fancy, and come down to sober reality. The preeinus metals are like any oilier com-niedny. That country which has productions to buy it wiih, and is not in debt, will have, to a certain smoinJ, their duo proportion; but those who have nothing in si ll, or are in debt, or the balance nf trade against thein, will have lulls. Thia truth, however, will yel remain, that of all the gold and silver currency In the world the share of Ohio can be no more than about $3,000,000. Yet, even by the admissions of Governor Shannon, in the ingenious document 1 have before quoted, Ohio needs a currency of at least $12,000,000. Let us examine further, air, and see bow admirably aha supplies It for her people. Tha Auditor's statement of the returns of the 26 banks, shows a circulation hy those banks of $3,584,311 uy eighi" other banks, taken from Ihe Commissioners repuri, - 1,111,739 $4,696,080 500.000 Add specie in circulation, Making in tha whole, 5,196.080 of bank paper and specie provided by the Legislature I Legisl of Ohio for all the purposes of government and the business of its citizens, amounting in the whole to $'1,43 per head of our population. But, sir, Ihe busi ness of Ohio is not done wiih such a modicum of currency. The deficiency is made up of notes from banks of other Stales, and unauthorized paper of our own; lor it is not probable that less Ihan about 10,000,000 is in circulation. If so, we have of bills of banks of other Stales four and a half millions of dollars, which will leave $303,920 of unauthorized paper. Calculating that the banka of other States make on their circulation eight per cent., our unwise legislation compels the people of Ohio lo pay to the other Slates for Ihe use of Iheir paper $360,000 per annum, which might just as well be retained at home. If our actual currency, made up as 1 have supposed, amounts to $10,000,000, it affords Isss ilian $7 per head for our population. By tables before me, compiled with great care from high authority, I find, air, that in 1830, a time of financial health, the currency furnished to their citizens by the several Slates which I am about lo mention, was as follows: In Rhode Island, $16 per heal of population. Massachusetts, 12 " " Connecticut, 8 " " Now York, 12 Pennsylvania, 11 " " Maryland, 9 And this waa irrespective of tha issues of the Bank of 'he United States, which then had a branch in each nf those Slates, with a generous circulation which materially increased Ihe currency. Ten dollars per head of our population would require a currency of between fifteen and sixteen millions of dollars. This we need. Our people, overwhelmed with embarrassment, in debt abroad, in debt to the banks, in debt to each other their properly is every day sacrificed under the hammer of the Auctioneer and the hammer of Ihe Sheriff, They are fertile in enterprise, affluent in lands, and rich in production; but they are detlitute, for want of a currency, nf the means of exchange. Thia it is the duty of Ihe Government lo furnish them. The Father of his country said, whenever there was not enough currency for the exigencies of Stale and the business of citizens, the fault was to be attributed to government. The people ask fur relief they demand it. At this time, sir, there is, throughout tha Stale, a feverish anxiety for a banking system. To Ihe carrying of their wishes into effect, what it objected 1 First, it is said that bank stockholders are wealthy aristocrats, preying upon the laboring poor. Sometimes they are gamblers and shavers al others, they are bank rogues. Aristocracy, Mr. Speaker, is an evil of which a free government is never in danger. The history of Ihe world shows that monarchy is the opponent of de mocracy, but arialocracy never. Why, sir, we have not the least feature of it not a vestige of either arialocracy of blood, aristocracy of wealth or of learning. It is true, we may look back wiih satisfaction upon generations of fathers who have been distinguished by their virtue and public services; and il is no small pari nf iheir reward that Iheir good name shouM descend to Iheir children should throw around them a circle nf friends willing to return the benefits bestowed nn community hy good men, to Iheir offspring, Uul his is no enviable station; the world expect more of liim, and if he disappoint them, he falls below Ihe son of the humb!e. Hence, often the sons of distinguished men occupy tho lowest stations, or no station, while Ihnsn of the humblest occupatinns rise to the most exalted. The rnads lo distinction are common highways in our government, open to all, leading directly from Ihe hearth-stone of every citizen. So of wealth the son of Ihe serving man, the runner nf errands acquires wealih and distinction. The poor boy William Gray went to Boston, found employment in a store as a mere runner nf errands, and became the rich Hilly Gray, the owner of millions. John Jacob Astnr, who sold his furs in a little front shop, with one small mom for his dwelling in the rear, his table, a plain oaken hoard, destitute or a covering, and furnished with black eartbernware, is nnw the wealthiest of the land. No parent is so obscure but his sous, by iheir own unaided tfforls may arrive at the pinncle of literary fame. Horn in a hovel, bound lo a mechanic, Jared Sparks is the pride of out nation, and occupies a liih place in Ihe learned aorielira of Europe. The Massachusetts Black-smith ranks among our most exalied literati, and holds collegiate honors the master uf fifty different languages, while yet the snvil rings beneath his hammer. Such ia tha geniua of our free and glorious institutions. Talent may mske a temporary distinction, but the next month or year, or generation at farthest, reduces all to a level. Like our own beautiful lake, which may for an hour be raised into lire gualiiiea, but when Ihe occasional wind subsides, its waves retire loa placid level. But, sir, holders of bank slock in our country are not Ihe avaricious, nor the wealthy. 7Vy hold iheir money for exorbitant interest and usurious contracts. It ia the weak, the aged, unprotected females, mechanics, merchants and traders of Small capital, and farmers, who Invest their funds in American hanks for aafely and an adequate return. I avail tnysulf of the 2d volume of Cury'a Political Economy, from which I read t " It appears from a careful examination, that of tha slock of all lha banka in Portsmouth, N. H., eix in number, and comprising an aggregate of 11,045 shares, there are owned hy Females 3,138 Government ofR- Mechanice - . 673 cera .... 438 Farmers & laborers 1,215 Mariners 434 Savings' Bank 1,013 Merchants 2,038 Guardians ... 630 Traders .... 191 Estate 307 Lawyers ... 397 Charitable institu- Physicians ... 336 lions .... 513 Clergymen. - - 220 Corporations and State-.. 157 Total shares 11,045 Six other banks in New Hampshire show about tha asme proportion of ownership between the different classes I'he whole number of stockholders of tha Bank cf Ulica, N. Y., it 191, of whom 28 are farmers, 18 merchants, 13 trustees of estates, executors or guardians,45 females, generally unmarried or widows, 1 olergyman, 9 lawyers, 1 physician, 9 manufacturer! or merchant!, 4 civil engineers, 3 bank officers, 2 officers of V. S. Navy, 1 broker, I presbyierisn church, 1 school district, 17 sged persons retired from butineaa, 27 unknown, residing out of tho Stale. 191 More than one fmirlh nf the whole capital stock of the banks in the Slate of Massachusetts is held by females, trustees, guardians, executors and administrators, and insiiiuilons for savings. Tha proportion ia as fellows : Amount of slock held by Females, $.1,831,011 83 Do. hyTruilees, . . - 2,fi.'5.6l(l 67 Do. hy Guardians, . . - 688 015 17 Do. hy Saving's Institutions, 2,2r5,534 33 Do, by Executort and Adm'rt, 692,519 17 $9,995,747 17 But, it is said, however It msy ba otherwheres, In this Stale, bank stockholders are a different class. 7'Aey are rogues at nil events. We shall see, sir. Having heard su much on ihis floor uf lha worthless- Tht Pis, Ilia Rank of Oalllwlli, li omitted.